IntroductionProject Management is a well-established approach in which we manage and control new ideas. Then, at a later stage, we will give shape to these ideas within the specific time and budget. Project management is no small task or job. It's a whole process of handling it the right way. Project management uses many tools to measure and verify completed activity. Based on these tools, project management decides whether it is feasible to continue or replace the resources or tools accordingly. The definition of Project Management mentions below what Project Management is: • It is not a small work task • It is an entire process within the limit of time and budget. • It has a definite beginning and end. • Project Management is reducing our project risk. • Project Management increases the chances of success. Project Management is normally described in the triangle shown in Figure 1. There are three (3) main factors which are time, cost and scope of the work.Figure 1: Project Management TriangleIf our project is ongoing or needing project management, we should keep in mind that the ongoing or upcoming project should be completed within a specific time limit. The project must be completed within the assigned budget. The project must be within scope. The project must conform to the customer's quality standard or customer demand. Project Life Cycle Phases There are four types of phases in the project life cycle, all of which are mentioned below:1. Initiation Phase2. Planning phase3. Execution phase4. Closing Phase Initiation Phase: Describes the initial phase of your current project. In this phase you define the scope of the project and the purpose of the project. Surely... middle of paper... the advertising office will be in Muscat. The company rank will be one. For Factory it will be in industrial sector like Rusayl or somewhere else. The company's activities will involve computer hardware and software. Two branches will be opened.II. Project Work Breakdown StructureConclusionReferences1. From the Book of the Quran, Surah Al-Imran verses 130-2).2. From the Book of Hadith Muslim3. From the Book of the Quran Surah Al-Mulk verses 2.4. Article from the website “difference between Islamic and conventional banks” by Ust Zahurudin, 20075. Book, M.Kabir Hassn and Mervyn K.lewis, 2007, “Handbook of Islamic Banking”6. Book, Mahmoud A. El-Galmal. , 2006, “Finance and Islamic law”7. Website article, July 2013, "Conventional Financing vs. Islamic Financing" http://www.internationalfinancemagazine.com/article/Conventional-Financing-Vs-Islamic-Finance.html